Publishing its half-yearly report for the six months to June 30, i-gaming operator 888 saw group revenues rise three per cent, to US$270.1m, driven largely by a 35 per cent year-on-year jump in sports betting revenue.
Revenue from online casino also rose steadily, by six per cent to $146m, while poker revenue held steady with a one per cent rise, to $42.5m.
Sports betting revenue jumped by 35 per cent to $33.7m, up from $25m in the first half of last year. While B2C revenue rose by six per cent to $242.6m, B2B revenue fell by 15 per cent, to $27.5m.
Adjusted EBITDA increased by eight per cent to $47.6m while adjusted profit before tax increased 12 per cent to $37.6m.
Itai Frieberger, CEO of 888, said in a statement: "888 has delivered further revenue growth and operational progress in the first half of 2017 resulting in a nine per cent increase in revenue at constant currency. This pleasing outcome was driven by continued growth in 888's core casino vertical, strong momentum in the fast-growing 888Sport and a good performance in poker.
“The Group's strong strategic momentum continued as 888 developed its positions in regulated geographies, achieved greater diversification across products and markets and further enhanced operational efficiencies. Our progress was driven by 888's technology, leading CRM capabilities and cutting-edge marketing expertise.”
The positive results come at a good time for 888, in the wake of the £7.8m fine recently imposed on the operator by the UK Gambling Commission.
